Thursday, June 07, 2012

Introducing the Gina - it's worth $US1.50

Gina and the cost of going it alone

Andrew Probyn
The West Australian

It was pointed out to Treasurer Wayne Swan yesterday that if WA had seceded, the astonishingly good GDP figures would not be looking anywhere near as pretty.

But what if WA was its own nation?

"If we had a WA dollar and let's say it was called the Gina, it would be worth at least $US1.50 compared to the 96-97¢ the Aussie is worth now," economist Stephen Koukoulas said.

"The WA cash rate would be double what it is now, or about 7 per cent, and the WA Central Bank, if there was one, would be moving to slow the economy down to stop people having to pay $5.50 for crappy coffee"...

Continued at the West Australian